CVS Health (NYSE:CVS) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of CVS Health (NYSE:CVS) in a research note published on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $62.00 target price on the pharmacy operator’s stock.

CVS has been the subject of several other research reports. JPMorgan Chase & Co. decreased their target price on CVS Health from $101.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a hold rating for the company in a research report on Friday, August 9th. Evercore ISI dropped their target price on shares of CVS Health from $65.00 to $62.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an equal weight rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an outperform rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of Moderate Buy and a consensus price target of $72.10.

CVS Health Trading Up 0.8 %

Shares of CVS stock opened at $57.98 on Tuesday. The business has a 50-day moving average of $58.28 and a 200 day moving average of $63.17. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a market capitalization of $72.94 billion, a PE ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.59%. CVS Health’s payout ratio is 46.75%.

Hedge Funds Weigh In On CVS Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter valued at approximately $32,000. First Community Trust NA lifted its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of CVS Health in the 4th quarter worth $34,000. Steph & Co. grew its holdings in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the period. Finally, ORG Partners LLC increased its position in CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.